ExodusPoint Capital Management LP Purchases 87,034 Shares of Synaptics Incorporated (NASDAQ:SYNA)

ExodusPoint Capital Management LP increased its position in Synaptics Incorporated (NASDAQ:SYNA) by 511.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,038 shares of the software maker’s stock after acquiring an additional 87,034 shares during the period. ExodusPoint Capital Management LP owned about 0.26% of Synaptics worth $7,940,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYNA. Vanguard Group Inc. raised its stake in shares of Synaptics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock worth $374,569,000 after purchasing an additional 93,155 shares during the last quarter. Geode Capital Management LLC raised its position in Synaptics by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 978,494 shares of the software maker’s stock worth $74,695,000 after buying an additional 9,799 shares during the last quarter. Norges Bank bought a new position in Synaptics during the 4th quarter valued at about $43,481,000. Wellington Management Group LLP boosted its holdings in shares of Synaptics by 20.7% during the 4th quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker’s stock valued at $42,483,000 after acquiring an additional 95,432 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of Synaptics by 46.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock worth $40,170,000 after acquiring an additional 165,866 shares during the period. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Price Performance

NASDAQ SYNA opened at $48.25 on Friday. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a 12 month low of $45.86 and a 12 month high of $98.00. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 11.41 and a beta of 1.60. The company’s 50 day moving average is $68.66 and its two-hundred day moving average is $73.92.

Insider Activity

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYNA. Susquehanna raised their target price on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Mizuho lowered their target price on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and an average price target of $95.00.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.